Amira Nature Foods Ltd · OTC:ANFIF
Amira Nature Foods — Q3 2015 Earnings Presentation
37 slides from Amira Nature Foods's earnings presentation, Mar 2, 2015
Slide 1: Investor Presentation Fiscal Q3 2015 Results
MAKE SOMETHING BEAUTIFUL Investor Presentation Fiscal Q3 2015 Results March 2, 2015
Slide 2: Forward Looking Statement
Basmati Roadshow_1_October - 2012.ppt Forward Looking Statement This presentation contains forward - looking statements that are subject to risks and uncertainties. All statements other than statements of historical fact included in this presentation are forward - looking statements. Forward - looki
Slide 3: Market and Industry Data
Basmati Roadshow_1_October - 2012.ppt Market and Industry Data This presentation contains estimates and projections regarding market and industry data that were obtained from internal company surveys as well as third - party sources such as market research, consultant surveys, publicly available inf
Slide 4: Presenters
Basmati Roadshow_1_October - 2012.ppt 1 KARAN A CHANANA CHAIRMAN AND CHIEF EXECUTIVE OFFICER BRUCE WACHA CHIEF FINANCIAL OFFICER RAJESH ARORA SR. EXECUTIVE DIRECTOR FINANCE ASHISH PODDAR EXECUTIVE DIRECTOR FINANCE Presenters
Slide 5: Fiscal Q3 2015 Financial Results
Basmati Roadshow_1_October - 2012.ppt Fiscal Q3 2015 Financial Results
Slide 6: Three Months Ended Q3 2015 Financial Highlights
Basmati Roadshow_1_October - 2012.ppt 3 3 Months Ended Q3 2015 Financial Highlights Revenue Key drivers Adjusted EBITDA Adjusted EPS % margin 14.3% 14.4% • Revenue increased $49.9 million or 35.0% to $192.4 million driven primarily by increased sales volume and product mix of rice in India and inter
Slide 7: Nine Months Ended Q3 2015 Financial Highlights
Basmati Roadshow_1_October - 2012.ppt 4 9 Months Ended Q3 2015 Financial Highlights Revenue Key drivers Adjusted EBITDA Adjusted EPS % margin 13.6% 14.1% • Revenue increased $111.8 million, or 31.0% to $472.6 million driven by increased sales volume, price and product mix of rice in India and intern
Slide 8: Three Months Ended Q3 2015 Revenue Mix
Basmati Roadshow_1_October - 2012.ppt 5 3 Months Ended Q3 2015 Revenue Mix Amira and Third Party Branded vs. Institutional Revenue Mix India vs. International Revenue Mix Amira and Third Party Branded Sales Note: Sales to Institutional customers were $16.0 million in Q3 2015 compared to $5.9 million
Slide 9: Performance Since IPO – Quarters of Double Digit Growth
Basmati Roadshow_1_October - 2012.ppt 6 Amira Nature Foods Performance Since IPO – 10 Quarters of Double Digit Growth LTM Revenue ($ millions) LTM Adj. EBITDA ($ millions) Note: Includes non IFRS measures and calculations that have been derived from historical financial statements and has not been a
Slide 10: ANFI Continues to Maintain a Conservative Capital Structure
Basmati Roadshow_1_October - 2012.ppt ANFI Continues to Maintain a Conservative Capital Structure ANFI Leverage (Total Debt / LTM Adj. EBITDA) ANFI Interest Coverage (LTM Adj. EBITDA / Finance Costs Net of Finance Income) 7 Source: Derived from public Company financial statements and Capital IQ as o
Slide 11: Key Working Capital Items
Basmati Roadshow_1_October - 2012.ppt 8 Key Working Capital Items Inventories $253.9 $255.0 $251.3 $253.8 % LTM sales 50.7% 46.6% 41.3% 38.5% Trade receivables $74.7 $80.9 $86.5 $99.1 % LTM sales 14.9% 14.8% 14.2% 15.0% Trade payables $68.3 $41.2 $11.9 $16.5 % LTM sales 13.6% 7.5% 1.9% 2.5% Net Adju
Slide 12: Key Capital Structure Items
Basmati Roadshow_1_October - 2012.ppt 9 Key Capital Structure Items Cash and cash equivalents $ 33.8 $37.6 $25.7 $ 27.0 Total debt $160.3 $184.8 $184.2 $ 187.1 LTM adjusted EBITDA $ 67.4 $75.5 $ 85.6 $93.0 Total debt / LTM adjusted EBITDA 2.4x 2.4x 2.2x 2.0x Net debt / LTM adjusted EBITDA 1.9x 2.0x
Slide 13: Outlook
Basmati Roadshow_1_October - 2012.ppt Outlook Long term FY 2015 Revenue 25% + growth $1.0 billion Adjusted EBITDA 25% + growth $150 million 10
Slide 14: The Truth About Amira: Amira Facts (2012 – 2015)
Basmati Roadshow_1_October - 2012.ppt The Truth About Amira: Amira Facts (2012 – 2015)
Slide 15: The Truth About Amira: Amira Facts (2012 - 2015)
Basmati Roadshow_1_October - 2012.ppt 11 The Truth About Amira: Amira Facts (2012 - 2015) ANFI listed on the NYSE in October 2012 at $10 per share ‒ The transaction was 100% primary with the net proceeds from the offering being reinvested into the business ‒ The Underwriters for the transaction were
Slide 16: Flexible, Vertically Integrated Business Model Sourcing From 200,000 Farmers
Basmati Roadshow_1_October - 2012.ppt Separation 12 ANFI Sources From More Than 200,000 Farmers and has a Flexible, Vertically Integrated Business Model Basmati/ Non - Basmati Rice Farms Processing Procurement Milling Packaging Representative Partners Distribution Procurement Basmati Value Chain Utt
Slide 17: Investing in Processing Capacity to Support Growth
Basmati Roadshow_1_October - 2012.ppt Currently operates a fully automated and integrated processing and milling facility (originally constructed in 1995 with major upgrades in 2010) Includes grading and packaging units, along with modern in - house laboratory for quality assurance and warehousing P
Slide 18: More Than Tripled the Size of its Business Since 2010
$202 $255 $329 $414 $547 $659 $0 $100 $200 $300 $400 $500 $600 $700 FY 2010 FY 2011 FY 2012 FY 2013 FY 2014 LTM Q3 2015 ($ in millions) $22 $31 $40 $52 $75 $93 10.7% 12.1% 12.1% 12.7% 13.8% 14.1% 8% 10% 12% 14% 16% 18% 20% 22% 24% $0 $10 $20 $30 $40 $50 $60 $70 $80 $90 $100 FY 2010 FY 2011 FY 2012 F
Slide 19: 20-F: ANFI's Revenue Mix Disclosure
Basmati Roadshow_1_October - 2012.ppt x ANFI provides revenue mix information based upon the following: ‒ Revenue by geography (including India, EMEA, Asia Pacific ex. India and North America ‒ Revenue by Amira branded, third party branded and institutional ‒ Total Basmati revenue and Total non Basm
Slide 20: Diverse Customer Base and Numerous Accolades
Basmati Roadshow_1_October - 2012.ppt ANFI has a Diverse Customer Base and has been Awarded Numerous Accolades 3 rd Party Branded Partners Selected Customers On February 18, 2015, Amira Nature Foods Ltd Announced Two New Partnerships to Expand Amira Branded Sales in the United States 16 Source: ANFI
Slide 21: ANFI's Products Sit On the Shelves Around the World
Basmati Roadshow_1_October - 2012.ppt ANFI’s Products Sit On the Shelves Around the World WH Smith, New Delhi Morrisons , London Dansk, Copenhagen Food Palace, Qatar Mariano’s, Chicago, USA Costco, USA 17 Established base in high growth emerging markets with opportunity to increase penetration in de
Slide 22: Concerted Efforts to Support the Brand
Basmati Roadshow_1_October - 2012.ppt ANFI Has Made Concerted Efforts to Support the Brand Wall Street Journal The Grocer, UK Public Transportation, UK Airport Billboard, New Delhi 18
Slide 23: Invested In Physical Infrastructure Around the World
Basmati Roadshow_1_October - 2012.ppt ANFI Has Invested In Physical Infrastructure with Sales Offices, Processing Equipment and Storage Around the World ANFI’s Offices Around the World Processing Facility, Gurgaon, India 19 Delhi Office (Current) Delhi Office (Spring 2015 expected occupancy) New Yor
Slide 24: ANFI Related Party Transactions (2013 - 2014)
ANFI Related Party Transactions (2013 - 2014) ▪ ANFI has benefited from a 100 year legacy of stewardship by the Chanana family ▪ ANFI has fully disclosed related party transactions since the time of its IPO; in FY 2014 these included: ‒ Salary and reimbursement to Mr. Chanana ‒ Mr. Chanana’s persona
Slide 25: Executive Compensation at ANFI is Fully Disclosed
Basmati Roadshow_1_October - 2012.ppt Executive Compensation at ANFI is Fully Disclosed Extracted from 20 - F: Executive Officer Compensation and Employment Agreement 21 Source: ANFI publicly filed 20 - F ANFI’s executive compensation is appropriate, fully disclosed and commensurate in amounts to th
Slide 26: Appendix
Basmati Roadshow_1_October - 2012.ppt Appendix
Slide 27: ANFI's Management Team and Board of Directors
Basmati Roadshow_1_October - 2012.ppt 30 ANFI’s Management Team and Board of Directors Source: ANFI’s publicly filed 20 - F
Slide 28: ANFI's Independent Directors
Basmati Roadshow_1_October - 2012.ppt 31 ANFI’s Independent Directors Source: ANFI’s publicly filed 20 - F
Slide 29: Condensed Consolidated Statements of Profit or Loss
Basmati Roadshow_1_October - 2012.ppt 23 Condensed Consolidated Statements of Profit or Loss (Amounts in USD) Source: ANFI’s publicly filed financial statements Nine months ended Three months ended December 31, 2014 (Unaudited) December 31, 2013 (Unaudited) December 31, 2014 (Unaudited) December 31,
Slide 30: Condensed Consolidated Statements of Financial Position
Basmati Roadshow_1_October - 2012.ppt 24 Condensed Consolidated Statements of Financial Position (Amounts in USD) Source: ANFI’s publicly filed financial statements As at December 31, 2014 (Unaudited) As at March 31, 2014 (Audited) ASSETS Non - current Property, plant and equipment $ 22,037,426 $ 23
Slide 31: Condensed Consolidated Statements of Cash Flows
Basmati Roadshow_1_October - 2012.ppt 25 Condensed Consolidated Statements of Cash Flows (Amounts in USD) Source: ANFI’s publicly filed financial statements Nine months ended December 31, 2014 (Unaudited) December 31, 2013 (Unaudited) (A) CASH FLOW FROM OPERATING ACTIVITIES Profit before tax for the
Slide 32: Non IFRS Measures
Basmati Roadshow_1_October - 2012.ppt Non IFRS Measures In evaluating our business, we consider and use the non - IFRS measures EBITDA, adjusted EBITDA, adjusted profit after tax, adjust ed earnings per share, adjusted net working capital and net debt as supplemental measures to review and assess ou
Slide 33: Non IFRS Reconciliations for Adj. EBITDA and Adj. Profit After Tax
Basmati Roadshow_1_October - 2012.ppt 27 Non IFRS Reconciliations for Adj. EBITDA and Adj. Profit After Tax (Amounts in USD) Nine months ended Three months ended December 31, 2014 December 31, 2013 December 31, 2014 December 31, 2013 Profit after tax (PAT) $ 33,775,302 $ 21,355,366 $ 14,128,150 $ 7,
Slide 34: Non IFRS Reconciliation for Adjusted Earnings Per Share
Basmati Roadshow_1_October - 2012.ppt 28 Non IFRS Reconciliation for Adjusted Earnings Per Share (Amounts in USD) Source: ANFI’s publicly filed financial statements Nine months ended Three months ended December 31, 2014 December 31, 2013 December 31, 2014 December 31, 2013 Profit after tax (PAT) $ 3
Slide 35: Non IFRS Reconciliation for Adj. Net Working Capital and Net Debt
Basmati Roadshow_1_October - 2012.ppt 29 Non IFRS Reconciliation for Adj. Net Working Capital and Net Debt (Amounts in USD) Source: ANFI’s publicly filed financial statements As at December 31, 2014 As at March 31, 2014 Current assets: Inventories 253,752,955 254,952,549 Trade receivables 99,132,069
Slide 36: Q3 2015 LTM Revenue, Adj. EBITDA and Adj. PAT Reconciliation
Basmati Roadshow_1_October - 2012.ppt 30 Q3 2015 LTM Revenue, Adj. EBITDA and Adj. PAT Reconciliation FY 2013 FY 2014 (A) 9 Months Ended Dec 31, 2013 (B) 9 Months Ended Dec 31, 2014 (C) LTM Dec 31, 2014 (A) – (B) + (C) Revenue $413.7 $547.3 $360.8 $472.6 $ 659.2 Adjusted EBITDA $52.4 $75.5 $49.0 $66
Slide 37: Basmati Roadshow_1_October - 2012.ppt
Basmati Roadshow_1_October - 2012.ppt